Indonesia’s Traveloka has halted talks to go public through a deal with Bridgetown Holdings, a blank check-company backed by billionaires Richard Li and Peter Thiel, Bloomberg reports, citing sources familiar with the matter.
Bridgetown shares dropped 1.6% on the news.
The board of directors of the Southeast Asian online travel giant has decided not to pursue a listing via a SPAC now as the enthusiasm in the SPAC market has waned, the people said, asking not to be named as the matter is private. Traveloka will likely explore going public via a traditional initial public offering in the U.S. instead, the people said. Read more.
